Medusa Mining Australian S.E.

X64

AU000000MML0

Gold

End-of-day quote Australian S.E. Other stock markets 06:00:00 2023-02-22 pm EST			5-day change	1st Jan Change
0.57 ^AUD	-.--%		-.--%	-.--%

Jul. 08	Ten Sixty Four Continues Negotiations to Execute Deed of Company Arrangement	MT
Apr. 25	Ten Sixty Four Sees Decline in March 2023 Gold Production	MT

MEDUSA MINING LIMITED - TIGERWAY UPDATE

January 19, 2022 at 10:10 am EST

Medusa Mining Limited ('Medusa' or the 'Company') (ASX: MML) is pleased to advise that the Tigerway (Decline) project is making significant progress with a total advance of 161m (as of 15 January 2022) with no health and safety issues registered.

The establishment of the decline is the best option to access ore below Level 12 to underpin the longevity and enhance operational flexibility at Co-O. The Tigerway construction is on track as originally scheduled.

The current heading-face is now past the expected shallow surface poor ground and now on fairground that is expected to ramp up the development meterage.

Andrew Teo, Medusa Managing Director, commented: 'I am pleased to report that the Tigerway decline project is making considerable headway to securing Co-O's long-term, extendable infrastructure solution to extracting the lower level reserves.'

This announcement has been authorised for release by the Board of Medusa Mining.

Contact:

Tel: +61 422 602 720

ABOUT MEDUSA

Medusa is an unhedged, high-grade gold producer which operates the Co-O Gold Mine in the Philippines. The Company's FY22 guidance is for 90,000 to 95,000 ounces of gold production at an All-In-Sustaining-Cost of between US$1,250 to US$1,300 an ounce. Medusa has no longterm debt and is targeting new growth opportunities in the Asia Pacific region.

Latest news about Medusa Mining

Ten Sixty Four Continues Negotiations to Execute Deed of Company Arrangement	Jul. 07	MT
Ten Sixty Four Sees Decline in March 2023 Gold Production	Apr. 25	MT
Ten Sixty Four Secures Restructuring Agreement	Mar. 20	MT
Ten Sixty Four Limited Reports Earnings Results for the Half Year Ended December 31, 2022	Feb. 27	CI

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Company Profile

Ten Sixty Four Limited is an Australia-based company, which is engaged in gold mining and exploration activities. The Companyâs projects include Co-O Mine, Philippines Exploration and Queensland Exploration. The Co-O Mine project comprises approximately 410 square kilometers (km2) of tenements, which cover approximately 70 kilometers (km) of strike length. The Co-O Mill project is located approximately six km north of the mine and has a capacity of 2,500 tons per day. Its Philippines Exploration includes the Royal Crowne Vein Prospect, which is located approximately two km north of the Co-O mine and corresponds to a projected vein segment along the northern portion of the approximately 1,500 meters long Sinug-ang vein system. The Company secures a 100% interest in its Queenslandâs approximately 4,150 km2 exploration land package in the southern Drummond Basin region of Central Queensland.

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